If I download the Cloud Hosted Router image from http://www.mikrotik.com/download and install User Manager on it, what will the default license limit me to?

Is there a limit on the number of users I can create? A limit on the number of users that can login simultaneously? A time limit after which, everything stops working? A bandwidth limit?

all CHR images have unlimited features, similar to Level6 license on other devices.
The only limits in CHR are time (if you choose trial) or speed (if you choose one of the licenses)

Just to confirm, according to your post, as well as this link:

http://wiki.mikrotik.com/wiki/Manual:CHR#CHR_Licensing

If we choose to use the free license on our CHR User Manager, it will be limited to 1Mbit of traffic. We can also either do a trial of the other licenses for 60 days, which would give us more speed, but only until the 60 days runs out, or buy a license.

If this is correct, then I have 2 followup questions:

• The 1Mbit limit - is that a limit on the radius traffic (requests from NAS's to see if a user is allowed to login or not), or will all users be limited to 1 Mbit/s when accessing the internet?
• For the free license, do we need to login to the mikrotik site and apply for it somehow, or is the free license automatically installed as soon as you download the CHR image?

For each Interface the speed limit is 1Mb whatever it is used for.

If you opt for the 1Mbit per interface version, no need to do anything, just install it.

Cool - thanks